Banks in Andhra Pradesh have achieved 99 per cent of the target set in the annual state credit plan for 2022-23, according to Manimekhalai, Managing Director and CEO, Union Bank of India.
According to data from the State Level Bankers’ Committee (SLBC), as of December 2022, lending to the agriculture sector was at 105 per cent, and to Micro, Small and Medium Enterprises (MSMEs) it was at 106 per cent.
Addressing bankers at the SLBC meeting in Amaravati, she asked banks to achieve 100 per cent digital transformation in 17 districts in Andhra Pradesh, while appreciating them for achieving the same in 9 districts.
She also asked the bankers to pay attention to the action points of this meeting for implementation in letter and spirit.
“On behalf of the banking fraternity, SLBC of AP assures that we will extend support and cooperation to the State Government and active participation in the state’s development would be a priority,” Manimekhalai said.
Stating that normalcy was back in the aftermath of Covid-19, the Union Bank MD said district reorganisation taken up in Andhra Pradesh was “laudable” as it had helped in further decentralisation of the administration.
Andhra Pradesh currently has 1,12,419 banking outlets (bank branches-7,769, ATM 10,553 & BCs 94,097), with 64 per cent of bank branches in rural and semi-urban areas.